Monday, 30 April 2012

You know your economy is in trouble when ...

From the New York Times,
Indeed, some here contend that Argentina has gone to the dogs, literally. So many nervous citizens have taken their money out of the country that Argentina’s tax agency now uses Labrador retrievers trained to detect the ink used to print dollar bills in an effort to stanch capital flight at the airports, ferry terminal and bus terminal in Buenos Aires.
Dollar-sniffing dogs and fines for publishing statistics might point to an economy in crisis.
along with
Unofficial measures suggest that annual inflation is between 20 percent and 25 percent. But the authorities have fined researchers for disseminating such figures, and the official estimate stands at 9.8 percent.
The soaring rate of inflation has capital flight accelerated to $22 billion in 2011. The future of the Argentina's economy does not look good.

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